Contents Market Inventory 2 New Listings 3 Pending Sales 4 Closed Sales 5 Closed Sales by Market Area 6 Closed Sales by Price 7 Days on Market by Price 7 Home Sales Prices 8 Days on Market 8 Supply-Demand Ratio 9 Absorption Rate 9 Market Overview 10 Market Snapshots 11-12 Sales by Area (color chart) 13 July 2009 Monthly Market Report Monthly Highlights • Pending sales for detached homes sales in all the Southwest Multiple Listing Service market areas are up .46 percent from the previous year. • Closed sales for detached homes in the Southest Multiple Listing Service market areas are up 13.25 percent from June 2009 and 4.40 percent from July 2008. • Dollar volume of closed sales for detached homes indicates a 2.89 percent decrease from July 2008, which is a signficant reduction from the -15 to -40 percent range seen over the last 23-months. Contact: Don Padilla, Chairman of the Board, 505-275-3615, [email protected]
Transcript
ContentsMarket Inventory 2New Listings 3Pending Sales 4Closed Sales 5Closed Sales by Market Area 6Closed Sales by Price 7 Days on Market by Price 7Home Sales Prices 8Days on Market 8Supply-Demand Ratio 9 Absorption Rate 9Market Overview 10 Market Snapshots 11-12Sales by Area (color chart) 13
July 2009 Monthly Market Report Monthly Highlights
• Pending sales for detached homes sales in all the Southwest Multiple Listing Service market areas are up .46 percent from the previous year.
• Closed sales for detached homes in the Southest Multiple Listing Service market areas are up 13.25 percent from June 2009 and 4.40 percent from July 2008.
• Dollar volume of closed sales for detached homes indicates a 2.89 percent decrease from July 2008, which is a signficant reduction from the -15 to -40 percent range seen over the last 23-months.
Contact: Don Padilla, Chairman of the Board, 505-275-3615, [email protected]
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Market Inventory
485
680 652
0
100
200
300
400
500
600
700
800
Jul-07 Jul-08 Jul-09
Attached homes on marketJuly 2007 - July 2009
5,919
6,402
5,476
5,000
5,200
5,400
5,600
5,800
6,000
6,200
6,400
6,600
Jul-07 Jul-08 Jul-09
Detached homes on marketJuly 2007 - July 2009
Detached represents existing single-family detached homes
Total Active Listingsas of August 5, 2009
Active detached: 5,476 Active attached: + 652 Total: 6,128
Attached represents existing condo/townhomes attached homes
SOURCE: Greater Albuquerque Association of REALTORS® - based on data from the the Southwest Multiple Listing Service. Data is deemed reliable not guaranteed.
3
New Listings this month 1,610
Compared to last month
2.94 %
Compared to July 2008
14.45 %
New Listings
Greater Albuquerque Market ActivityJuly 2006 - July 2009
SOURCE: Greater Albuquerque Association of REALTORS® - based on data from the the Southwest Multiple Listing Service. Data is deemed reliable not guaranteed.
4
Greater Albuquerque Market ActivityJuly 2006 - July 2009
SOURCE: Greater Albuquerque Association of REALTORS® - based on data from the the Southwest Multiple Listing Service. Data is deemed reliable not guaranteed.
5
Greater Albuquerque Market ActivityJuly 2006 - July 2009
0
500
1,000
1,500
2,000
2,500
3,000
Jul-06Jan-07
Jul-07Jan-08
Jul-08Jan-09
Jul-09
# of
Lis
tings
Pending Sold New
Closed Sales
Closed Sales this month 735 Compared to last month
SOURCE: Greater Albuquerque Association of REALTORS® - based on data from the the Southwest Multiple Listing Service. Data is deemed reliable not guaranteed.
6
Closed Sales by Market Area
SWMLS Market Areas 10-121 City of Albuquerque 180 Placitas 130 Corrales 210-293 East Mountains 140-162 Rio Rancho 690-760 Los Lunas, Belen, Bosque Farms 170 Bernalillo
Days on Market by Sale PriceJuly 2009 Sales (Detached / in thousands)
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Home Sales PricesSingle family home sales priceJuly 2006 - July 2009
$140,000
$160,000
$180,000
$200,000
$220,000
$240,000
$260,000
Jul-06Jan-07
Jul-07Jan-08
Jul-08Jan-09
Jul-09
Median Sales PriceAverage Sales Price
Median Sales Price for Single Family Homes $185,000
Average Sales Price for Single Family Homes $224,271
Days on MarketAvg Days on Market ( 75 DOM for July 2009)
0
20
40
60
80
100
120
Jul-06Jan-07
Jul-07Jan-08
Jul-08Jan-09
Jul-09
The Days on Market is determined by calculating the total days listed as active on the market until contract or pending.
SOURCE: Greater Albuquerque Association of REALTORS® - based on data from the the Southwest Multiple Listing Service. Data is deemed reliable not guaranteed.
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Absorption Rate
Supply-Demand Ratio
July 2008 - July 2009
7.388.85 9.04
10.7512.09 12.04
9.15 10.02
7.18 6.39 6.31 5.81 6.26
02468
101214
Jul-0
8
Aug-0
8
Sep-0
8
Oct-08
Nov-0
8
Dec-0
8
Jan-
09
Feb-
09
Mar-0
9
Apr-0
9
May-0
9
Jun-
09Ju
l-09
The Supply-Demand Ratio is calculated by dividing the number of homes for sale (listings available) by the number of total pending sales for that month. The higher the ratio, the more supply there is relative to demand.
Num
ber
of A
ctiv
e Li
stin
gs
for
Eac
h B
uyer
SOURCE: Greater Albuquerque Association of REALTORS® - based on data from the the Southwest Multiple Listing Service. Data is deemed reliable not guaranteed.
July 2008 - July 2009
8.91
9.28 9.25 9.16 9.14
8.47
8.859.03 9.07
9.279.41
9.55 9.54
7.88.08.28.48.68.89.09.29.49.69.8
Jul-0
8
Aug-08
Sep-08Oct-
08
Nov-08
Dec-08
Jan-09
Feb-09
Mar-09
Apr-09
May-09
Jun-09
Jul-0
9
The Absorption Rate measures how long it w ill take to exhaust or sell our current housinginventory. An average market is tradittionaly a six-month supply.
